Ripple has high hopes for its XRP asset, especially when it comes to remittances and money transfers. The EUR/USD pair on the ODL platform is seemingly gaining traction very quickly, confirming that this approach certainly has merit.
Based on the current technology, it is unlikely that Bitcoin will replace international money transfers.
XRP Keeps Making Remittance Inroads
It is both too expensive and far too slow to make any real impact on that industry.
Ripple’s XRP asset, while often shunned by crypto enthusiasts, is doing the exact opposite.
It would appear that this asset is in high demand through the On-Demand Liquidity payment platform.
The USD/EUR pair is getting a lot of attention, and thus generates plenty of volume.
Exploring different corridors when it comes to money transfers and remittances is crucial in this regard.
Contrary to what one might think, the growth isn’t apparent in other segments.
The Philippine corridor with XRP/PHP is noting another drop in volume, as that trend has been going on for several days now.
How these statistics will evolve in the weeks and months to come, remains to be seen.
Regardless of how one feels about Ripple and XRP, the asset is making inroads on a global scale.